Tivola Games divests the mobile games portfolio for ca 8.2 million SEK
Jumpgate´s portfolio company Tivola Games has entered into an agreement with Trophy Games to divest the mobile games portfolio for ca 8.2 million SEK (0.7 million EUR). The portfolio comprises the company´s game titles that are based on a free-to-play model. The sales price exceeds the book value of the portfolio.
“Tivola Games has, in line with the rest of the Jumpgate group, been through a significant transformation lately because of the strategic focus on premium games for primarily PC and console. We no longer have the organization in place which is needed to support the free-to-play based portfolio with live ops and player engagement. Therefore, our view is that the portfolio will find a better home at Trophy Games. The divestment will not have any impact on the premium versions of the games for other platforms than mobile, which have been developed in collaboration with NACON. Through the deal we get access to capital which can be used mainly to pay down the debt and strengthen the balance sheet in Jumpgate”, says Florian Bohn, CEO Tivola Games and CFO/COO Jumpgate.
For additional information
Harald Riegler CEO, Jumpgate AB Phone: +46 (0)705 - 54 73 33 E-mail: harald@jumpgategames.se
About the Company
Jumpgate AB is an independent group of game development companies founded in 2011, comprising five game studios: Nukklear (Hannover), Tivola Games (Hamburg), gameXcite (Hamburg), Funatics (Düsseldorf) and Tableflip Entertainment (Visby). The group develops and publishes its own games as well as developing games and other digital products for external companies. The companies in the group have established collaborations with strong industry partners and exciting product portfolios with large potential. The group is engaged in the global market, distributing games on a worldwide basis and has a large international network. For more information: www.jumpgategames.se
This information is such information Jumpgate AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-03 13:30 CEST.